mortgages spain

Spanish banks and housing market

Mortgage signings fall 18% in March, average is now €137,000 at 23 years and 3.41%

The number of mortgages taken out on dwellings fell by 18.1% in March compared to the same month in 2023, to 29,653 loans, with an average interest rate higher than that of the previous month, according to data released on Monday by the National Statistics Institute (INE). Specifically, the average interest rate for mortgages on housing reached 3.41% in March, compared to 3.33% in February. With the exception of January…


Spanish mortgages market

Mortgages falling for last 12 months

According to data released yesterday by the National Statistics Institute (Ine), the number of mortgages taken out on housing fell by 10.3% last January compared to the same month in 2023, to 33,128 loans, with the average interest rate soaring to levels not seen in almost a decade. Specifically, this reached 3.46%, compared with 3.32% in December, thus reaching its highest value since the end of 2014, when it stood…


Spanish mortgages market

Mortgages continue to fall: down 19% year-on-year in November

According to data published yesterday by the National Statistics Institute (INE), the number of mortgages taken out on dwellings fell by 19.1% in November in year-on-year terms (-22.3% in October), making a string of 10 months of year-on-year falls. The INE also reported that the average amount of mortgages on dwellings fell by 0.5% year-on-year in November, to €145,894. At the same time, the capital loaned decreased by 19.5%, to…


ley hipotecaria

Number of mortgages granted in Spain falls by -29.6% year-on-year in September, and -17.2% in year to date

Ibercaja| The number of mortgages on homes granted in Spain fell by -29.6% year-on-year in September, the average amount remained stable (0.0% at €143,186) and the total amount granted fell by -29.7%. So far this year, with data accumulated from January to September, the fall in the number of mortgages granted is -17.2%, in the average amount -2.1% and in the total amount granted -18.6%. The number of mortgages granted…


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Mortgages granted in Spain fall by 22.7% year-on-year in August

Santiago Martínez (Ibercaja)| The number of mortgages granted in Spain fell by -22.7% year-on-year in August, the average amount by -4.9% (to €138,171) and the total amount granted by -26.2%. As can be seen in the evolution of both sales and mortgages granted, the correction of the real estate market continues its course from transaction levels that seemed unsustainable if we take into account recent demographic trends and those expected…


Spanish mortgages market

Mortgages granted in July in Spain fall by -18.8% year-on-year, average interest rate rises

Santiago Martinez (Ibercaja) | The number of mortgages granted in Spain fell by -18.8% year-on-year in July, the average amount by -2.1% (to €143,412) and the total amount granted by -20.9%. These data are in line with what we have been seeing throughout the year, an expected correction from levels that were considered unsustainable after the emergence of pent-up demand during the pandemic, as well as changes in buyer preferences…


housing market spain cities

Mortgages taken out in Spain in May fall by 24% in May, and 20% for the year to date

Ibercaja | In May, in line with recent months, the number of mortgages on dwellings registered in the property registers fell by 33,398, 24.0% fewer in annual terms. In 2021 and 2022 (especially the first half of the year) there has been high growth in the mortgage market due to the existence of accelerating levers in this market: savings accumulated during the pandemic, change in consumer tastes (houses, flats with…


España bancos

Average rate at which Spanish banks granted mortgage loans in June reached 4.045%, highest level since 2009

Alphavalue/DIVACONS| The annualised return on equity of Spanish banks rose to 11.15% compared with 9.86% in the previous quarter and 10.56% in the same quarter last year, according to supervisory statistics on credit institutions for the first quarter of this year published on Thursday by the Bank of Spain. On the other hand, the average rate at which Spanish banks granted mortgage loans in June reached 4.045%, which is its…


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Spain’s mortgage portfolio to fall by 1.7% this year and not recover until 2026

Alphavalue / Divacons| Spain’s mortgage portfolio will fall by 1.7% this year and will not recover to the levels seen in 2022 until 2026, according to a report by the consultancy firm EY published on Monday. Specifically, the professional services firm estimates that the outstanding balance of the Spanish mortgage portfolio will end the year down 1.7% to 484,000 million euros. In the coming years it will grow again, but…


Spain’s real estate sector: from recovery to expansion

Average Spanish mortgage: €145,860 at 2.67% over 24-year term

The number of mortgages for homes granted in Spain fell in December by -8.8% year-on-year and the average amount by -1.1%, so that the total amount granted fell by -9.2% year-on-year. These are the first year-on-year falls since February 2021, when the data still reflected the extraordinary setback experienced during the most acute stages of the pandemic. The average interest rate for residential mortgages in December reached 2.67%, with an…